Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Retailing in Costa Rica

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Macroeconomic inertia continues to influence local retailing activity

Immersed in a general low confidence index context and facing a significant macroeconomic adjustment driven by an anticipated general tax reform, the value performance of the overall retailing industry remained restricted, which affected all segments of the local population. In this context, consumers’ spending habits were reflected in general cutbacks across most retailing categories.

As locals continue to adopt modern lifestyles and gain further access to multiple retailing alternatives, pricing strategies based on discounts and promotions as well as more convenient shopping solutions, are expected to continue to drive retailing trends. Despite the uncertain economic scenario, there was further consolidation of multiple modern retailing formats.

Major international players’ consolidation continues setting the pace

Retailing remained stifled by the further expansion of major international retailers that continued to gain selling space and operational scale with aggressive penetration strategies. Walmart’s recent purchase of the second largest (in selling space) modern grocery retailing player in Costa Rica (Grupo Gessa) meant the immediate addition of 52 new supermarkets across the country.

Retailers invest in their brands’ ability to add value and convenience

As local buyers continued to face an expanding base of retailing options both in-store and online, brands leveraged their individual strengths to remain competitive in an increasingly consolidated market. This scenario resulted in more aggressive pricing competition and key players choosing to update their customer service practices to help reinforce brand loyalty and generate a constant repurchase dynamic.

Online retailing and mobile apps anticipated to gain momentum by 2023

Given the continued and increasing relevance millennial buyers will have in the retailing dynamics of Costa Rica over the next five years, it is anticipated that demand for more convenient and affordable shopping options will further boost the performance of virtual selling platforms by 2023. International competitors such as Amazon and AliExpress are expected to increase their presence across the region.

Files are delivered directly into your account within a few minutes of purchase.